Edgar Oks Bill To Allow Votes On Tax Caps

July 18, 1996

Gov. Jim Edgar signed legislation last week that would allow Downstate county boards to let voters decide whether to impose property-tax caps similar to those already in place in the six-county Chicago metropolitan area.

But it is questionable how many county boards will authorize a tax-cap referendum for voters given that it would limit local taxing bodies to boosting property tax collections by 5 percent or the rate of inflation, whichever is less.

Edgar, at a bill-signing ceremony in Rockford, contended existing property-tax caps in the Chicago area have saved homeowners and businesses nearly $500 million since they were imposed in 1991.

Edgar had pushed for the imposition of statewide property-tax caps in his first gubernatorial campaign in 1990.